Sushi Sushi Joins Japanese Dining Empire in $160 Million Acquisition
In a significant move for the Australian dining landscape, popular sushi chain Sushi Sushi has been acquired by Japanese dining giant Genki Global Dining Concepts. The deal is valued at approximately $160 million, marking a pivotal moment for Sushi Sushi since its inception in 1998 in Melbourne.
Sushi Sushi’s Growth and Market Presence
Since being bought by Odyssey Private Equity in 2019, Sushi Sushi has experienced substantial growth. The company added 60 new locations over seven years, boasting a total of 190 stores across Australia. In the last financial year, Sushi Sushi alongside its sister brand, Sushi Musa, reported impressive annual revenue of $88.7 million.
Genki Global Dining Concepts
- Founded in 1968, Genki started as a sushi train.
- It operates internationally with locations in the U.S., Hong Kong, Malaysia, Singapore, Kuwait, the Philippines, China, Cambodia, Indonesia, and Myanmar.
Mitsuzo Fujio, the CEO of Genki, highlighted that the acquisition of Sushi Sushi fits their vision of expanding globally. “Sushi Sushi is an iconic Australian brand with a powerful consumer proposition,” Fujio stated, emphasizing the potential for further growth in Australia and overseas.
Historical Background
The origins of Sushi Sushi trace back to Box Hill, Victoria. Co-founder Anna Kasman recognized the demand for high-quality sushi and started selling hand rolls from a fish shop. This innovative approach laid the groundwork for what would become a beloved Australian sushi chain.
Market Context
The Australian sushi industry is thriving, nearing the $1 billion mark in 2025 according to IBISWorld. Sushi Sushi’s acquisition reflects the growing appetite for Japanese cuisine in Australia, underscoring its expansion potential as part of a larger global strategy.
